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Real Estate

Casablanca oceanfront  condo-hotel  200 million sale!

Cashflow In Miami
October 14, 2022

Casablanca oceanfront  condo-hotel  200 million sale!

6345 Collins Avenue, Miami Beach

The Meruelo family, owners of the Deauville property in Miami Beach, is offering to buy the historic oceanfront Casablanca resort for $200 million.
The condo-hotel at 6345 Collins Avenue, with about 350 residential and commercial units, was developed in 1948 on a nearly 2-acre site in North Beach.
The offer is reportedly contingent on voters approving a referendum Nov. 8 that would allow billionaire developer Stephen Ross to redevelop the Deauville into a much larger project than is currently allowed. Residents will vote on three resolutions to increase the allowable size of a development for specific properties in the Deauville’s North Beach neighborhood. Ross’ roughly $500 million purchase of the Deauville is contingent on voters approving the referendum.

Only then would the Meruelos move forward with their purchase.

Properties that are designated historic, like the Deauville and the Casablanca, are protected from demolition in Miami Beach, unless the structure is declared unsafe.
The board accepted the offer at a board meeting!!

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